The Maui real estate market saw a very active month in June, especially in terms of home and condo sales, according to the Realtors Association of Maui monthly report. In fact, both saw double digit gains, compared to the same month last year.
Home sales increased by an impressive 21.2 percent, while condo sales increased by a solid 11.8 percent. We always remind folks to keep that in a relatively small market like ours, the percentages can swing a lot based on a moderate number of sales, but the data is still worth following. It can be especially useful if you’re a prospective buyer looking for a beneficial window in the seasonal trends.
The report revealed that 99 single-family homes sold in June. As for the median sales price, it reached $740,000, which was up 12.3 percent compared to $659,000 last year. This makes the increase in the number of sales all the more impressive. As for condos, there were 123 units sold, with a median price of $435,000, which was up 13.3 percent from $384,000 in June of last year.
Now for the steadier, more reliable data, let’s look at the year-to-date statistics from January to June. Home sales are up 2.4 percent to 546, and median prices are up 11.5 percent to $705,000 compared to $632,500 during the first six months of last year. Condo sales are up 10.2 percent to 712, and median prices are up 12.4 percent to $475000. That’s the data you can rely on for the most accurate picture.
If you’re in the market for Maui real estate and you’re going to need a mortgage, getting pre-approved is an important first step to know how much home you’ll be able to afford. This way, you can shop with confidence, and you won’t risk getting your hopes up and losing time looking at properties that end up being just beyond your reach.
If you need our assistance finding and/or purchasing the right property for your needs, you’ll find our contact information at the bottom of the page. If you’re still exploring, try our Maui real estate search feature to hone in on real estate that fits the criteria that you’re looking for. Mahalo!